Dollar-yen remained in a narrow range in the low ¥159s during Tokyo trading, with movements centered around the mid-¥159s. With the release of the FOMC minutes approaching, concerns about intervention remain in focus.
Dollar-yen fell in Tokyo morning trading while moving within a narrow range. After rising to around ¥159.64 early in the morning, it weakened to around ¥159.29. Although weak U.S. economic data continued, uncertainty over the situation in the Middle East continued to limit the spread of dollar buying.
Levels above ¥160 are being watched as potential intervention levels, capping gains. Dollar-yen remained around the mid-¥159s today, with the trading range limited to approximately 20 sen.
Minutes of the FOMC meeting held in July are scheduled for release today, drawing attention to the U.S. monetary policy stance amid a global rise in interest rates. Cross-yen pairs generally moved in favor of a stronger yen, although moves were limited.
Euro-yen fell from around ¥184.84 to around ¥184.53, while pound-yen reached around ¥216.06 before falling below ¥216 and declining to around ¥215.70 in the 11 a.m. hour.
Euro-dollar fell to around 1.1570 before rebounding, at one point rising to around 1.1585 in the 11 a.m. hour. Pound-dollar moved in a range of 1.353 to 1.354.